Problem of Grandfathering clause in filling returns

248 views 1 replies

We have filled our return where long term capital gain was mentioned as per provisions of Grandfathering clause. Now we have received this message :- 

"There is inconsistency in the LTCG amounts /Totals entered in schedule CG OR Taxpayer is claiming deductions u/s 54 which are more than the amounts allowable as per the respective sections."

Can anyone explain what should we do to solve this query ??

Replies (1)
Grandfathering clause is applicable on sale of listed equity shares and units of equity oriented MF schemes. That's true.

And you don't get any deduction on such capital gain under section 54.

Section 54 deduction is not applicable here in your case.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register